ongoing financing (think they're like halfway through their $6B ATM).
Serenity 白毛女-中文翻译（公开）
Serenity 白毛女-中文翻译（公开）
ongoing financing (think they're like halfway through their $6B ATM).
Just some hopium for $IREN investors, $NBIS also signed a deal with $META at the start of the year (but markets didn't care at all, since Nebius dropped to ~$70-80 at the lowest point?).
But did 6 months later, as the time to revenue inflection gets closer and you're past the ATM/capex window, markets would likely care more.
I don't think it's irrational but at the same time, the fundamentals have improved from Mirantis acquisition to others. I also think it was known for awhile it was either OpenAI/Anthropic from CEO comments earlier too?
But either way to be a more risk-off environment where funds seem to be rotating to larger names as a flight to safety.
$CRWD / $PLTR as just two example, but my take is that the valuations of these rotations are reaching clown levels. And that certain AI supply chain beneficiaries in comparison are undervalued now.
I was thinking markets would just rotate to names that are extremely profitable like Samsung or names that have <2X P/E, so it was surprising to see $KOSPI and some legacy memory players get sold off today.
Since all of this is colliding with uncertainty about sht macro environments and renewed sustainability concern of AI capex/commitments from frontier labs like OpenAI/Anthropic from due to that FT piece recently. I've always been sounding the alarm about the contractual backlog OpenAI has with $CBRS, $MSFT, $ORCL and others earlier in the year. But OpenAI did just raise $122B or so , so I don't quite think they're at risk of going down anytime soon.
I also don't think overall capex can just exponentially go up, but even if it stalls / hovers around a certain point or even drops...
Capex toward certain areas like optics will still explode as hyperscalers fight over allocations when CPO scale up comes about, but might drop in others
Just some hopium for $IREN investors, $NBIS also signed a deal with $META at the start of the year (but markets didn't care at all, since Nebius dropped to ~$70-80 at the lowest point?).
But did 6 months later, as the time to revenue inflection gets closer and you're past the ATM/capex window, markets would likely care more.
I don't think it's irrational but at the same time, the fundamentals have improved from Mirantis acquisition to others. I also think it was known for awhile it was either OpenAI/Anthropic from CEO comments earlier too?
But either way to be a more risk-off environment where funds seem to be rotating to larger names as a flight to safety.
$CRWD / $PLTR as just two example, but my take is that the valuations of these rotations are reaching clown levels. And that certain AI supply chain beneficiaries in comparison are undervalued now.
I was thinking markets would just rotate to names that are extremely profitable like Samsung or names that have <2X P/E, so it was surprising to see $KOSPI and some legacy memory players get sold off today.
Since all of this is colliding with uncertainty about sht macro environments and renewed sustainability concern of AI capex/commitments from frontier labs like OpenAI/Anthropic from due to that FT piece recently. I've always been sounding the alarm about the contractual backlog OpenAI has with $CBRS, $MSFT, $ORCL and others earlier in the year. But OpenAI did just raise $122B or so , so I don't quite think they're at risk of going down anytime soon.
I also don't think overall capex can just exponentially go up, but even if it stalls / hovers around a certain point or even drops...
Capex toward certain areas like optics will still explode as hyperscalers fight over allocations when CPO scale up comes about, but might drop in others
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